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Petrom will invest over €1 billion in two refineries

Romanian company Petrom will invest €1,2 billion in the modernization of Petrobrazi and Arpechim refineries, the Romanian Rompres agency informed.

It is planned to increase Petrobrazi’s annual production by 4,5 million tons per year, reaching 6 million tons and better production quality. In Arpechim the main objective is to push up energy efficiency. OMV company owns 51.011% of Petrom, Romanian state – 30.862%, while the European Bank for Reconstruction and Development – 2.026%. (